EUR/NZD may rise 79 - 116 pips

Our pivot point is at 1.7875.

Our preference

Rebound towards 1.8043.

Alternative scenario

The downside breakout of 1.7875 would call for 1.7813 and 1.7776.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.7932 and 1.7944).

Supports and resistances

1.8117 **

1.8080 *

1.8043 **

1.8006

1.7927 last

1.7899

1.7875 **

1.7813 *

1.7776 **

Number of asterisks represents the strength of support and resistance levels.